All Eyes on Tiger Woods as Masters Golf Tournament Tees Off

Tiger Woods poses after victory at the World Golf Championships-Cadillac Championship at the Trump Doral Golf Resort & Spa.
Tiger Woods poses after victory at the World Golf Championships-Cadillac Championship at the Trump Doral Golf Resort & Spa.

A tradition unlike any other.

That's the famous tag line on the Masters, perhaps, the most prestigious golf tournament on the planet.

This year, it could be even more special, both from a golf and from a business perspective. The economy is arguably the best its been since before America's economic crisis, and high-end consumers are spending again.

But in some ways, the great potential for golf and for business this year at Augusta is linked by one person—not hard to guess who.

Tiger Woods.

He is back to number one for the first time in nearly two-and-a-half years. What's more, he's gaining back some popularity after his selacious story of infidelity more than three years ago.

(Read More: Tiger Woods Is Back With Win, His Image Gets a Mulligan)

Woods is in a relationship—confirmed on Facebook, mind you—with skier Lindsay Vonn, and the aura around him simply seems more positive, successful...and lucrative.

A Masters win would be his first major championship in nearly five years, and could re-ignite Tiger-mania. That would be good for business: television, golf equipment, corporate name it.

According to CBS, which is airing the Masters, viewership can jump as much as 200 percent when Tiger is in contention.

For Nike, which stuck with Tiger throughout the ordeal, the impact could extend well beyond golf. "It will certainly help Nike Golf," Sterne Agee analyst Sam Poser said. "But I think it will help the overall Nike brand with all the press it gets.

"If you look at what [Michael] Jordan did for the Nike brand, it was a lot bigger than just Nike basketball...Tiger can do the same thing."

(Read More: Tiger Woods' Popularity Apparent Again)

Tiger having the game by the tail again, and the economy on somewhat surer footing, has energized all the businesses surrounding the event.

Tickets for the Masters are in high demand. On the secondary market, they are going for thousands of dollars. In fact, as of late Wednesday, asking prices for four-day passes were still hovering around $10,000.

Another thing to look at is private jet travel. It's made a huge comeback, and some point to that as a strong economic indicator.

"If you look at the activity from 2012 versus 2009 for the Masters, our flight segments into Augusta have doubled," said Flight Options CEO Mike Silvestro.

In the American world of sports and private jets, the Masters is the second-biggest event behind the Super Bowl.

"It's a unique venue because it really combines both pleasure and business," said Silvestro, whose company is the number two private jet company after NetJets. "You have golf enthusiasts going to, perhaps, the most storied golf tournament, so the demographic is perfect for people who fly private aircraft.

"Corporations and businesses use it to not only entertain their clients but their employees as well."

-By CNBC's Brian Shactman; Follow him @BShactman